Bank of Montreal Can lessened its holdings in Regions Financial Corp (NYSE:RF) by 33.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,624,434 shares of the bank’s stock after selling 5,276,990 shares during the quarter. Bank of Montreal Can owned 1.03% of Regions Financial worth $142,156,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Legacy Financial Advisors Inc. bought a new position in shares of Regions Financial in the fourth quarter worth approximately $30,000. Stratos Wealth Partners LTD. purchased a new position in shares of Regions Financial during the third quarter valued at approximately $114,000. Rational Advisors LLC raised its holdings in shares of Regions Financial by 245.8% during the third quarter. Rational Advisors LLC now owns 6,217 shares of the bank’s stock valued at $114,000 after purchasing an additional 4,419 shares during the last quarter. QUANTRES ASSET MANAGEMENT Ltd purchased a new position in shares of Regions Financial during the fourth quarter valued at approximately $143,000. Finally, NEXT Financial Group Inc purchased a new position in shares of Regions Financial during the third quarter valued at approximately $150,000. Institutional investors own 76.42% of the company’s stock.
Several research analysts have recently weighed in on RF shares. Raymond James decreased their price objective on shares of Regions Financial from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Wednesday, October 24th. ValuEngine cut shares of Regions Financial from a “hold” rating to a “sell” rating in a report on Thursday, November 15th. JPMorgan Chase & Co. raised shares of Regions Financial from a “neutral” rating to an “overweight” rating in a report on Monday, November 26th. Argus assumed coverage on shares of Regions Financial in a research note on Wednesday, November 28th. They issued a “buy” rating and a $19.00 price objective for the company. Finally, Nomura reissued a “reduce” rating and issued a $14.90 price objective (down from $17.00) on shares of Regions Financial in a research note on Monday, December 10th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $17.41.
Regions Financial (NYSE:RF) last announced its earnings results on Friday, January 18th. The bank reported $0.37 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.01). Regions Financial had a net margin of 27.23% and a return on equity of 10.84%. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.49 billion. During the same period in the prior year, the company posted $0.36 EPS. The company’s revenue was up 1.6% compared to the same quarter last year. On average, equities research analysts predict that Regions Financial Corp will post 1.58 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 8th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Thursday, March 7th. Regions Financial’s dividend payout ratio is presently 41.18%.
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Regions Financial Company Profile
Regions Financial Corporation, together with its subsidiaries, provides banking and bank-related services to individual and corporate customers in the United States. Its Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending, as well as equipment lease financing services and corresponding deposits.
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